8 Bet Types Every New Punter Needs to Know
New to online betting? Here are the most common bet types!
There are various types of betting options available to punters. Below are a few of the most popular bet types placed here in the UK, all of which have their own level of risk:
A single bet is the simplest and most common type of bet. It involves placing a wager on a single outcome of an event, such as the winner of a football match
An each-way bet is essentially two bets in one. Half of the bet is placed on the selection to win, and the other half is placed on the selection to place (usually finishing in the top 2, 3, or 4, depending on the number of participants). This bet type is most often used by horse racing punters.
An accumulator bet is when a punter incorporates multiple selections into one single bet. All of the selections made will need to be on the money for the bet to be a success. This type of bet offers the potential for large payouts but is also riskier than a single bet.
System Bet/Round Robin
A system bet is similar to an accumulator bet, but it offers more flexibility. The bettor selects multiple outcomes and can choose to place bets on all possible combinations, increasing the chances of a payout.
These bets are popular in horse racing and greyhound racing. A forecast bet involves selecting the first two finishers in the correct order, while a tricast bet involves selecting the first three finishers in the correct order.
In-play betting allows punters to place bets while a match or event is in progress. The live odds fluctuate based on the score or situation, providing opportunities for strategic betting throughout.
A spread bet is a type of bet where the payout or loss depends on the accuracy of the wager rather than a fixed outcome. It involves placing a wager on the range of outcomes for a particular event, such as the total number of goals scored in a football match.
A handicap bet is used when one team is perceived to be stronger than the other. The stronger team is given a handicap, which means they must win by a certain margin for the bet to be successful.
Whatever type of bet you wish to place, being registered with the RIGHT bookmaker is essential. Here are some of the best UK betting sites, along with the current new player offers!
- Mr Play Sportsbook: £15 Welcome Bonus
- Vickers - £10 Free Bet
- Kwiff - £20 Welcome Bonus
- BetVictor - £40 Bonus
- HighBet - £15 Free Bet